We are no longer providing equity research coverage on ParagonShippingPRGN . We provide broad coverage of more than 1,700 companies across 91 industry groups, and adjust our coverage as necessary based on client demand and investor interest.

and the structure is not unlike recent maneuvers by fellow dry-bulk ship owners TBS International TBSI and ParagonShippingPRGN . Although Excel faces higher interest costs in connection with its updated debt agreements, we're encouraged

its dividend in order to hoard cash. Looking at the rest of our coverage universe, we think Excel Maritime EXM and Paragon PRGN may need to follow its counterparts and amend their debt facilities. Although the firms hadn't yet violated these covenants